The gold miner is still ramping up its renewed open pit and underground operations near Leonora. It has been completing a mix of grade control and extensional drilling over recent months.
The results from some 45,000m of underground drilling are regarded as promising and have opened up new potential mine areas.
Drilling in the main orebody focused on the Regal and the Eastern Flank areas associated with the granodiorite-ultramafic contract that is the focus of ongoing development, with stoping now underway.
Key intercepts included 64m at 6.33 grams per tonne from 24m and 56.7m at 3.76gpt from 53m.
Holes into the narrow vein Central area, at the south-western extent of the workings below the historical Tarmoola pit, returned intercepts such as 30m at 3.48gpt from 123m and 3.4m at 49.4gpt from 73m.
The drilling ‘down the nose’ of the granodiorite/ultramafic contact, targeting new bulk mining areas, intersected 152m at 2.77gpt from 21m, and 99m at 1.47gpt from 34m over 129m at 0.84gpt from 143m.
Previous drilling below the South pit had intersected a mix of thin but frequent and bulk-style mineralisation.
Assays such as 16m at 1.3gpt from 25m and 5.6m at 4.3m at 211m support further infill drilling to convert open pit resources to reserves.
Managing director Mark Williams said the results bode well for the near-term mine plan and future expansions.
Red 5 is working to increase capacity at its KOTH mill from the nameplate 4.7 million tonnes per annum to 5.5Mtpa.
The KOTH and Darlot operations produced 36,260 ounces in the December quarter.
Red 5 targets 90,000-105,000oz production at all-in sustaining costs of A$1750-1950/oz for the current financial year.
It has around $18 million in unrestricted cash and bullion to fund its work.
